The Daily Moat

The market, read like an owner.

Every weekday before the US open, one short letter: what moved and why, which sectors got cheaper or dearer, which businesses actually changed, and the Buffett or Munger principle that applies. Five minutes, no tips, no hype. Free, every weekday, plus a Sunday weekly.

See a sample issue ↓Read past issues →

Example layout
The Daily MoatWeekday · before the open

1. The tape

Indices, breadth and rates in one glance, with what actually drove the move.

2. Sector valuations

Which sectors got cheaper or dearer against their own history.

3. Businesses that changed

Filings and results that altered a company's long-term economics, and the ones that only made noise.

“You only have to be able to evaluate companies within your circle of competence.”Warren Buffett, 1996 shareholder letter

Five minutes, before the open

Written to be read with a coffee. If nothing important happened, the letter says so and stays short.

Real, sourced numbers

Market data and company filings, with sources. Opinions are labelled as opinions. Examples are labelled as examples.

Principles, not predictions

No price targets and no buy or sell calls. Each issue connects the news to a verbatim, cited Buffett or Munger idea.

What you get

Two letters, both free

The daily letter

Every weekday, before the US open.

  • The tape: indices, breadth and rates at a glance
  • Sector valuations: what got cheaper or dearer
  • The business that changed, read with Buffett's checklist
  • One verbatim Buffett or Munger lesson

The Sunday weekly

The week in one calm read.

  • The week's moves and the sector scoreboard
  • Market mood and valuation gauges
  • What a patient owner would do, and what they would ignore

Sample issue

Read a recent issue

Every past letter is free in the archive.

Read it →

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Questions

About the letter

When does it arrive?

Weekday letters land before the US market opens. The weekly edition arrives on Sunday.

Is it really free?

Yes. No card, no trial, no paywall.

Is it investment advice?

No. The Daily Moat is educational commentary. It never tells you to buy or sell anything. See our disclaimer.

Who writes it?

The team behind the Buffett Economics YouTube channel. We are not affiliated with Warren Buffett or Berkshire Hathaway.